Market Structure and Challenges for Annuities in India

Mukul G. Asher

Deepa Vasudevan

Publisher:

Oxford University Press

DOI:10.1093/acprof:oso/9780199594849.003.0003

India will need to develop a robust annuity market if it is to enable its rapidly aging population to address longevity risk. As the fraction of the aged triples by 2050, driving a huge potential demand for annuity-type products will need to be matched by responses from annuity providers. Developing a deeper and broader market for annuities will require disaggregated morbidity and mortality databases for better price discovery, supply of financial instruments enabling better matching of assets and long-term liabilities, innovations in annuity products and distribution channels, greater financial literacy, and more robust regulation.

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